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Apple board questioning Tim Cook's place as Steve Jobs' successor, say sources

Should Tim Cook start brushing up his CV? Probably not, but a Fox Business News report suggests that Apple's board is getting skittish about a long lull in new product releases and may even be putting "pressure" on the company's CEO to produce a game changer of the sort his predecessor was famous for — and fast.

"What have they had lately? They have the iPad, they've had a few other things, but they don't have anything innovating from what came from Steve Jobs. And that concern is basically manifesting into pressure on Tim Cook to basically innovate, to do something fast," Fox Business News correspondent Charlie Gasparino said during a broadcast report on the state of Apple.

Gasparino said his information about "concern at the board level" at Apple came from sources inside the company. He noted that while the board of directors "is now worried about what they have in the pipeline" and concerned about the company's stock price dipping 35 per cent from its all-time high, there's no indication that Cook's job is in jeopardy.

"I don't think we're there yet," Gasparino said Apple sources were saying about the possibility that the company's directors might not think Cook was "the right man for the job."

It's worth pointing out that Apple, even if it's theoretically in a bit of a slump, still sells a ton of product and rakes in profits that are the envy of the industry.

In public appearances and interviews, Cook has said that Apple has plenty of great technology cooking in its product pipeline. There's been speculation that Cupertino plans to unveil a smart watch or some other form of wearable tech as its next big market-defining product a la the Jobs roadmap, and Apple hasn't done much to quash those rumours.

But during a time when Apple has seen its iPhone and iPad market share shrink in the face of an Android assault led by Google and Samsung, the long wait for follow-ups to the company's cash cow products may just be starting to wear on a board of directors that in recent years has grown unaccustomed to anything short of dominance.